MBA Profile Evaluation - Real Estate Background
Hi everyone,
I’ve been thinking of pursing a MBA for quite some time and would greatly appreciate additional perspectives on my candidacy. I’m aiming for HSW (shoot for the stars) but wonder if those schools are even worth applying to. As a side note, I come from a working-class background and would have to finance the degree myself. I worked through college, managed to pay off my student loans, and saved ~$100k. I’d hate to spend it all and/or take on +$100k of debt, so financial assistance will play a big role in my decision. What are everyone’s thoughts on non-M7 (NYU, Yale, Cornell) and the chances of receiving more aid there? What kind of application strategy do you all recommend?
Thank you, your input is appreciated more than you know.
- Personal Background: 28 / 29 years old (application / enrollment), minority, first generation American. Parents came to the US from a 3rd world country seeking political asylum in the 80s.
- Undergrad (UG): 3.8, Finance. Private school in the Top 50 (think Tulane, BU, Northeastern). Received significant merit-based scholarship to attend. President of Finance Club and Real Estate Club. Member of an exclusive honors finance program that consisted of only ~30 students (majority of students went into IB).
- GMAT: TBD, currently studying. Aiming for a 700 or higher.
- Work Experience:
- LevFin internship with BB while in UG (doubt it matters at this point)
- 2.5 years as investment analyst/associate at a well-known and respected real estate focused PE shop (multiple funds raised, each with +$1B of equity). Oversaw a group of ~10 analysts towards the end of my tenure.
- 4.5 years as associate/manager at a top real estate development firm (think Greystar or Hines). Worked on affordable and workforce housing. Day-to-day included a mix of real estate / public policy (private-public partnerships).
- EC: 7 years of off/on volunteer work at a shelter in South America for underprivileged children. 2.5 years of involvement in mentorship programs.
- Goals: Refine soft skills and drastically expand my network. Pivot out of RE development and into either an Infrastructure or Real Estate investment banking group. In doing so, I can gain experience in corporate finance / valuations and leverage it with my knowledge of real estate investments and development to eventually start a fund. The fund will focus on the double bottom line and invest in a) real assets (energy efficient commercial real estate, charter schools, healthcare facilities, and infrastructure projects) and b) operating companies that deal with these assets.
Thank you!
I am currently in the same boat as you studying for my GMAT. I have done extensive research on an MBA/GMAT/Schools/Admissions for the past 2-3 years as this was a big decision for me to make. To this day - I continue to do research on this, just so I can make a better decision. So when I am replying to this post - I am putting myself in your shoes.
Up until your goals - I was highly debating if an MBA would even be worth it for you. Financial aspect is a big factor. You seem to have a good job. But your goals of staying in RE field but in another function/industry clearly shows that you need an MBA to do so. So I will go ahead and asses your profile - based on my personal research (take it with a grain of salt).
Personal Background - Age is good for an MBA, first-gen American - even better. You said that you are a minority - but what is your race? and what makes you a minority? This also plays a big role in your admissions - so if you expand on this slightly, it will be better.
Undergrad - Great GPA. Average for Stanford - and above average for all other M7/T15 schools. Good undergrad school - not Ivy League - but also not from a unknown college. Extracurriculars in undergrad are great.
Work Exp - You are right - at this stage your internship does not matter. Expand/showcase your achievements at your current job as an associate/manager. Quantify everything. Nevertheless - good work experience. Slightly above average (Avg is 4-5 years in U.S. for T15).
ECs - Also good, but not great. Maybe if you add more detail - we can make a sound judgement. Nevertheless it shows your international experience which most people don't have under them for ECs.
GMAT - I wanted to save this for last. You can get into IB from any T15 school. The only difference is that one school sends more into IB than the other and has a more streamlined process. These schools are NYU(T10/15), Cornell(T15), CBS(M7), Wharton (M7), Booth (M7). Now given your profile - a scholarship would be great for you to make the decision easier. For this to happen, you need to have a high GMAT score - to only be accepted, but also to get a scholarship. So this is what I will suggest - Wharton/Booth/CBS (730+ Admittance, 750+ Scholarship). NYU (710+ Admittance, 730+ Scholarship). Cornell (700+ Admittance, 720/30+ Scholarship). There is no benchmark for this and this is not posted anywhere. This is based on my personal research. Now can you get accepted with a 700 in Wharton? Yes, you sure can. But a 730+ will significantly improve your chances - especially since you will have a GMAT score that it at average of the school. None of this is guaranteed, but that is what you should aim for. At this point - your essays, LoRs, Resume, GMAT will make a big difference on being admitted and getting a scholarship. So in your case it does not hurt to take a step back and assess your profile. Can you achieve the same IB results by going to CBS vs Cornell? Probably. Given your financials are a factor, the scholarship/living expenses will play a role. Apply to all of these schools and see who offer you a spot and scholarship. Also just like job offers, you can go back to the schools and tell them School X is giving a scholarship, but I want to attend this school if you also give me a scholarship. The worst that can happen is they say NO, but hey - does not hurt to try!
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